Phillips 66 (NYSE:PSX) Shares Bought by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV lifted its position in shares of Phillips 66 (NYSE:PSX) by 2.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,741 shares of the oil and gas company’s stock after buying an additional 513 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Phillips 66 were worth $3,061,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Madison Park Capital Advisors LLC increased its holdings in shares of Phillips 66 by 3.0% during the 1st quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock worth $383,000 after buying an additional 68 shares during the last quarter. Warwick Investment Management Inc. increased its holdings in Phillips 66 by 3.1% in the 4th quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock valued at $319,000 after purchasing an additional 73 shares in the last quarter. MV Capital Management Inc. increased its holdings in Phillips 66 by 9.6% in the 1st quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock valued at $137,000 after purchasing an additional 73 shares in the last quarter. HCR Wealth Advisors increased its holdings in Phillips 66 by 2.9% in the 4th quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock valued at $351,000 after purchasing an additional 74 shares in the last quarter. Finally, Nvwm LLC increased its holdings in Phillips 66 by 0.9% in the 4th quarter. Nvwm LLC now owns 8,286 shares of the oil and gas company’s stock valued at $1,103,000 after purchasing an additional 75 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of NYSE PSX traded down $0.63 during trading on Wednesday, hitting $139.84. The company had a trading volume of 483,163 shares, compared to its average volume of 2,763,726. The company has a market cap of $59.29 billion, a P/E ratio of 10.75, a PEG ratio of 2.12 and a beta of 1.34. Phillips 66 has a 52 week low of $94.51 and a 52 week high of $174.08. The business’s 50-day moving average is $142.22 and its 200 day moving average is $144.98. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The company had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the prior year, the company posted $4.21 EPS. Equities research analysts predict that Phillips 66 will post 10.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the transaction, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the subject of several recent research reports. The Goldman Sachs Group increased their price target on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Scotiabank increased their price target on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. decreased their price objective on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday. Argus reissued a “buy” rating and issued a $167.00 price objective on shares of Phillips 66 in a research report on Thursday, May 30th. Finally, TD Cowen decreased their price objective on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, June 21st. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $157.07.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.